GST on Rent: Does the rented home also require payment of the 18% GST? government provided extensive information
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GST Slab Change: Social media is awash with stories about the GST. According to these reports going viral on social media, the government changed the GST rules as of July 18. According to these regulations, you must pay an additional 18% GST on top of your rent if you rent an apartment. After reading the news that is going viral, the tenants are extremely concerned.
PIB Fact Check reveals the truth
If the claim in this message is accurate, you will need to pay Rs. 11,800 plus 18% GST in place of the monthly rent of Rs 10,000. This news was deemed to be entirely false after PIB Fact Check looked into this widely circulated message. According to PIB Fact Check, the rumors of an 18% GST on rent are unfounded. In addition to this, the government’s statement on this has also been released.
There is no GST due for personal use. According to PIB’s tweet, a residential unit’s rent is only taxable when it is rented to a GST-registered business for commercial purposes. It has also been made clear that no GST will be charged if someone rents it out for personal use.
What’s the law?
A person must pay GST if they rent residential property for their business, according to information provided by the government following the GST meeting. Experts claim that the GST is not due when renting a residential home or apartment for a salaried class person. Only when the registered person or entity conducts business is GST payment necessary.
